A total value of over $13.9 billion in BTC and ETH options is set to expire today, with the maximum pain points being $115,000 and $3,800.

ChainCatcher news, Greeks.live macro researcher Adam released today’s options delivery data: 100,000 BTC options are expiring, with a Put Call Ratio of 0.73, and the max pain point at $115,000, notional value of $10.9 billion. 690,000 ETH options are expiring, with a Put Call Ratio of 0.77, max pain point at $3,800, notional value of $3.03 billion. Adam analyzed that "the theme of this week remains price pullback, the rapid pump last Friday did not lead to sustained market movement, both BTC and ETH have pulled back over 10% from their historical ATH, but market sentiment remains relatively optimistic. This week, there are nearly $14 billion in options delivery, accounting for over 20% of current total Holdings, entering a range-bound volatility trend this month. From the main options data, there is a significant rebound in implied volatility, with BTC’s medium to short-term IV hovering around 35%, ETH’s main term IV below 70%, and short-term IV dropping to 60%, with IV fluctuations entering a range-bound battle. Meanwhile, there has been a lot of block trading this month, with a particularly noticeable increase in the proportion of bearish block trading; today, the volume of bearish options block trading accounted for 35% of the total trading volume, setting a new high for the past few months. There is a significant amount of protective block trading, and overall, the options market shows a lack of confidence in the September market.